How the Jobs Report Impacts Consumers

12/6/2013 10:41AM

Does Wall Street see continued improvement in the job market, and does the high jobless rate among young people concern the investment world? Manolo Sanchez, BBVA Compass USA chairman and CEO, joins MoneyBeat. Photo: BBVA Compass.

This transcript has been automatically generated and may not be 100% accurate.

... I ... sure the jobs report looks pretty good name some signs the economy's getting stronger ... when things really look like in the economy on the ground that's why we're lucky to have with us ... BBVA Compass CEO chandelier Chairman and President ... Manolo Sanchez welcome to the show ... I'll what you make of that jobs report this one ... was certainly great news and the upcoming we're missing have seventy percent our business in Texas and ... so that is an economy that grew in last year for twenty percent go to about four percent this year so it's pre much a land where were seeing in ... much faster growing economy now the more the world and ... were also great news we we know what a better economy looks like it feels like ... and the euro a strong across the southern half of the country ... did the request of the banking sector is always Europe year old Ahmad that ... he's he's demand for consumer loans Moody's yesterday using that as a proxy ... for how much it on how much the economy's going there ... are you seeing a lot demand for consumer loans ... oh we are a great ... general the so the mortgage business and others to do this you don't make Wi Fi below minutes of trading away but they're still out and enough for the world are strong ... purchase for new homes ... so that there's there's false there in in in in the Texas economy YouGov ... assess a darker use extended for some of this is the ... you can see a ... decent consumer lending practices ... he sent to live a little one couple years ago a certain certain that none of them was in no way oh nine and ten a m to its video ... we did a story this week we said that the number of paying more and then the Number pencil roll would fall to lowest level since the Great Depression ... on one bank stocks have had a great year ... banks are profitable obviously ... but the number of banks is shrinking like that says that there are some issues in the banking sector ... what is going well when you see happening in the banking sector ... well the main thing on is is that the low rate into some Marmon is pressuring ... mentors margin and and it's still a soft amount of revenues to ... so ... the numbers of being on school permissions so we coming out of that that that cycle it's over ... so we are that turning point where it would have to ... get back to real bank activity to a different level so ... aam and then of course you know this whole branch ... concentration ... through the color that basically aam you the consumer is ... using more The Digital have a hundred fifty William ... smartphone users in the U S that's ... hundred fifty million consumers in their back pocket but ... aam did these two men's branch ... of the traffic that make you less branch transition to digital is a big aam ... of ... solution that we wrestled ... comes crawling to ... bring forth to the tothe users can liquidity ... how much of this I hope yours is a competition among you guys how how funny look economies growing filings and its not get decent rates are greatly to how hard is it for you the J P Morgan to the world to all these banks to compete for the consumers business the dishes pre strong ... aam and a commission has been so ... in in the in the chicken space which is our main acquisition tool ... there's still a file ... Journal fines from form one and to know there's a lot of competing offers ... no we are so rigid in our own immobile ... solutions we have a very broad suite of apps ... for some pull ... we would just ... awarded by a javelin and independence were the most optionality in the U S vessel shoddy formal well ... we are all laughing so we rolled Coolidge ... so aam you are more lives you won't get an area of the brand we use to forty vendors to develop our own code ... for some way of the aisle ones that iOS developers in household debt ... that makes a difference and it's a big investment that's a big chunk of the tenements of them would want to make this kind of investments ... we have the oh we have our full strength app on my phone and Android with a few banks were among the big banks is nobody else has it right up on infiltration in U S ... in the year yet yet ... so by linguists are reviving was to be choosy ... or Spanish and to ... so there's a mixed of the woodwork on to them we just want to earn our latest ... version of the app is going to Russia wire transfers ... you can do for your phone ... so it's really a race to get the bank in the pocket Arike and all tensions BBVA Compass thank you thank very much for coming in to the auto